What to Do With a Coin Collection

 

If you have recently come across a coin collection and you are not sure where to begin, here are some useful tips for figuring out what to do with your or your family’s coin collection.

 

Do Not Clean the Coins

 

The most important thing is to not clean any of the coins. Coin collectors value original, unaltered coins, and cleaning them can substantially diminish their value. Even if the coins or packaging appear dirty, leave them exactly as you found them.

 

Collection vs. Accumulation

 

When you come across a group of coins, it's important to know the difference between a collection and an accumulation.

 

We have purchased thousands of collections and accumulations over the years. A collection usually consists of coins organized into protective books, albums, or third-party certified holders. A true collection often contains the hard-to-find rare dates and mintmarks.

 

An accumulation usually consists of coins stored in bags, jars, boxes, pill bottles—you name it, we’ve seen it! Although unorganized, many of these accumulations still have silver value if the coins are dated before 1965. It was very common for previous generations to save coins in this way.

 If you come across any of the following coins, be sure to keep them:

• Cents before 1959   
• Nickels before 1955
• Dimes before 1965   
• Quarters before 1965
  
• Half Dollars before 1971
  
• Silver Dollars before 1936
  

 

 

Evaluating Your Collection

 

We all love to go online, and the internet is great for many things. However, there is a large amount of misleading information about coin values online.

 

The best thing to do is bring your collection to a reputable dealer who has spent their life becoming a coin expert. Be sure to read their reviews and verify if they are affiliated with professional organizations like:

 

• American Numismatic Association (ANA)
  
• Professional Coin Grading Service (PCGS)
  
• Numismatic Guaranty Corporation (NGC)
  

 

If you're interested in learning more, two excellent written guides are:

• A Handbook of United States Coins
• The Standard Catalogue of World Coins
  

 

If you would like to borrow a copy of A Handbook of United States Coins, feel free to stop by our shop and grab one.